US budget deficit jumped to $215.2 billion in February
Monday, 12 March 2018 () WASHINGTON (AP) — The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface. The Treasury Department reports that the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago. In February, employers started using tax tables that withheld less from paychecks based on the new law. For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago.
For many the sums of $1 billion and $100 billion dollars fall into the same general category of gobs and gobs of money; however, the distinction is immensely important among those who actually deal in such amounts.
For many the sums of $1 billion and $100 billion fall into the same general...
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